Scene from the movie: MC Gusto says, "We take Gusto's image, right? Make ourselves into hardcore rappers. Then we take stories from Gusto's life, get Trustus Jones to handle it..."
Real life examples: Rick Ross, 50 Cent

Now this is where you say that writers Chris Rock and Nelson George were not only brilliant, but most likely clairvoyant. In 1993, when you're in a movie theater (way before Netflix) enjoying your reasonably-priced popcorn with lots of butter (way before trans-fats), and a extra-large soda (way before Bloomberg) and you see Chris Rock's character unknowingly aid the police in bringing down the way-cooler, street-certified, gangsta/club owner Gusto, you chuckle because it's a funny, clearly scripted moment. 

Then, when Chris Rock's character formulates a plan to borrow Gusto's name and credibility while the real Gusto is in jail, you guffaw because it's so far-fetched! And after MC Gusto and his crew become super-famous off the name and image, and the real Gusto fights to get his name back, you wave it off because this could never happen.

Flash forward to 2014, and see that Rick Ross (the rapper) has successfully won a court case over "Freeway" Rick Ross (the real drug trafficker upon which the rapper's stage name was based), letting Rick Ross (the rapper) keep the name and all monies associated with it. The next move is obviously to find Chris Rock and/or Nelson George and buy lotto tickets as a group.